Car insurance prices £100 more expensive in the UK now compared to this time last year

It’s not just insurance costs which are hurting motorist’s pockets though with drivers also paying more for fuel than they did last year.

Research from 83 per cent of UK’s fuel stations drivers are now paying 119.1p for petrol and 120.5p for diesel, on average.

This means that the average driver of a medium-sized car is now paying £67.89 for a full tank of petrol and £68.69 to fill up with diesel.

Experts believe that, much like with car insurance, fuel prices are also likely to increase over the coming months.

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Amanda Stretton, motoring editor at Confused.com, says: “With car insurance costs rising by 65% over the last decade and 14% in the last year it’s no wonder drivers are dreading their next renewal date.

“The dramatic Ogden rate cut from 2.5% to -0.75% in February 2017 sparked a surge of car insurance price hikes across the UK, in an already inflating market, as insurers braced themselves to pay out more for personal injury claims1.

“A recent (September 2017) government announcement regarding the way rates are set could increase the rate up to 1%.

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Older drivers are among the worst affected by the changes

“This means insurers have been able to calm their pricing slightly this quarter. Even so, we expect this will be short lived given that prices have already started to rise again in September.

“Worryingly, there is every possibility that car insurance prices will be the most expensive on record during the first half of next year.

“Luckily, insurers are required to show drivers what they paid for their car insurance last year at point of renewal.

“Drivers wanting to make savings should take note of their renewal price and take a few minutes to get a comparable quote online at Confused.com, where they could save up to £289.”